This page has been archived and commenting is disabled.
The Silver Bears Are Back
...And that would be bears as in cartoon bears, who are now back for the 6th installment of their periodic, and very much unique and extemely politically incorrect and PG-18 recap of key developments in the silver market. Love them or hate them, they do provide an interesting thought experiment on what happens if silver does finally experience the long-expected technical drop.
»
- 32371 reads
- Printer-friendly version
- Send to friend
- advertisements -
Good time to add silver and silver mines...AUY, SLW, etc....
I love the hubris of some in life, how it drips from bitter sweet lips of people who can't see/won't see beyond the end of their noses. But then, that is what makes a man believe he is not myopic and still alive and kicking. The pot of gold at the end of the rainbow always helps. Reminds me of the magnificent seven...they all wanted to die rich...except a few...the happy few...or the less delusional few...or the wiser few...or the dumber few...or just the prouder few...all are appropriate at different moments of the day.
Their leader, Chris, summed it up : the loser few. That's why they were magnificent. Knowing, accepting, how to lose is an art in life. It keeps you young, even when you die.
Current May 2011 Silver Trading = Greatest Stop Loss Raid Of ALL TIME!
Nice work, once again Silver Bears, keep it in perspective.
http://silverliberationarmy.blogspot.com/
Nice job, SilverGoldSilver. Though it seems to me a little like the video is stating the obvious, but I'm certain that's just me. To someone who hasn't been following the silver markets, this is undoubtedly a valueable perspective.
Still, even for someone more knowledgeable about the silver markets, your videos are always enjoyable.
Apmex as of right now is still getting over $48 for MLs & Eagles.
Seems like a lot of people here suddenly have more confidence in the dollar.
Supposing the paper ETFs are fiction, then explain why you're allowed to redeem shares for physical?
You can buy shares of SLV and take them to the counter and redeem them for bullion. That's a fact. If SLV is a fraud, then why hasn't it been raided and imploded through this redemption mechanism?
So there isn't a shortage of physical silver.
Yet.
You'll know the endgame has arrived when they change the rules, no longer allow exchange of shares for bullion. That will happen when the vault is empty. The final insult will be as the last of the holdout longs panic-sell their worthless shares, the buyers will be the naked shorts closing out their positions (after long ago banking their profit).
Until that happens, anybody who needs silver bars, they can get it from Blackrock, millions of ounces, simply through redemption of shares. But the factual non-shortage goes both ways. A holder of bullion can simply short SLV today, and toddle up to the counter later and exchange cheap bullion they dug out of the ground for shares to cover the short position.
Actually, you are incorrect.
Only "authorized participants" can redeem SLV shares for actual silver, and only in "baskets" of 50,000 ounces. The last time I checked, there were only around a dozen authorized participants anyway. The average investor has NO capability to redeem SLV shares for physical silver in any way, shape or form. As the SNL Church Lady would have said, "how convenient".
Hmmm, could it be...... SATAN?
Do a search on JPM and see that they have been caught and charged for charging a storage fee for gold or silver they did not hold and had settled out of court.Thats right they were caught.And guess who owns GLD and SLV, yep JPM that's right.But note that SLV and GLD do not charge a specific storage fee where you pay to store so many ounces and pay per year on each ounce.That's right those services are not specific enough to get them charged so why, but why in the world, would you believe they would suddenly become now honest with GLD and SLV.
Do a search on JPM and see that they have been caught and charged for charging a storage fee for gold or silver they did not hold and had settled out of court.
I'm not a defender of banksters, I hate banksters to the point of being irrational about it.
But that particular practice of JPM sounds unremarkable, like something the phone company would do.
I believe the supposed shortage in physical silver is being exaggerated. Recently somebody got the "issuing of shares" of SLV backwards like it was some sort of conspiracy to dilute. In fact those shares were simply being documented in a filing--they would have to be issued to those who are depositing bullion when such a deposit occurs. No conspiracy there. It indicates bullion is flowing into their vault.
However, we are seeing more of this price divergence as time goes on. Ebay silver is being bid up well above the silver spot price, more so than last year I've noticed. Also, all the physical dealers are showing shortages of available stock and are raising premiums over spot price. This is something easily noticed.
If we assume the awful case, where the price manipulators maintain control over paper silver prices, such that 2 separate prices for silver emerge, one for physical and then the paper price, quoted as spot, for the short term it'll be bad for the average physical holder because price discovery will be -confusing as hell-. Most physical sellers will have fewer physical buyers who are willing to pay X amount over the spot price. In general, it will have the potential to seriously jerk liquidity from the physical market as confidence in price is eroded, driving casual participants out of the arena.
In the long run, I still think holders of physical silver will be the winners, but now, I find my accumulation strategy compromised when I imagine a confused and less liquid physical market in the near future.
SILVER HAS TOPPED.
CHART:
http://stockmarket618.wordpress.com/2011/04/27/thurs-april-28
http://www.kitco.com/LFgif/ag2011.gif
lines bitchez
The former execs that ruined the company for 50 years with meritless, non-achievement, nepotistic hiring practices, have been and now are living without having to work, being paid billions, the life of Riley.
cheapest car insurance
The Yen, and Japan, raising cash to pay for the reconstruction of the country, is already on the path of Yen appreciation and will be assisted in their efforts by the other central banks. By acting in a co-ordinated fashion they will begin to reverse the worldwide race to the bottom.
florida home insurance
I'm willing to tithe 5% for enough chains to place on all the rascals between the FRB and Wall St.
cash loans